Page 12 - Probability Demystified
P. 12
1
CHAPTER
Basic Concepts
Introduction
Probability can be defined as the mathematics of chance. Most people are
familiar with some aspects of probability by observing or playing gambling
games such as lotteries, slot machines, black jack, or roulette. However,
probability theory is used in many other areas such as business, insurance,
weather forecasting, and in everyday life.
In this chapter, you will learn about the basic concepts of probability using
various devices such as coins, cards, and dice. These devices are not used as
examples in order to make you an astute gambler, but they are used because
they will help you understand the concepts of probability.
1
Copyright © 2005 by The McGraw-Hill Companies, Inc. Click here for terms of use.
